Leeds are set to acquire 49ers Enterprises following the sale agreement reached with Andrea Radrizzani

Leeds United are finally set for new ownership after talks over the last 24 hours sealed an agreement for Andrea Radrizzani to sell his majority stake in the club to 49ers Enterprises.

The two sides publicly announced an agreement on Friday, allowing 49ers Enterprises to begin the process of formally certifying the long-awaited eventual purchase.

The formal completion of the acquisition is likely to take several weeks while the legalities are dealt with and the group seeks EFL approval for the deal.

The various individuals involved in the 49ers Enterprises investment pool will be required to pass the EFL Owners and Directors Exam before completing the purchase.

But confirmation that the American fund will gain full control of Leeds from Radrizzani should free the club to begin work on the football front and actively implement initial plans.

A Leeds statement read: “Leeds United can confirm that an agreement has been reached between Aser Ventures and 49ers Enterprises to purchase the club.

Both parties are continuing to work through the details, and more updates will be available soon. All our focus remains on a quick return to the Premier League.

“Thank you for your continued support. Crawl together.”

Leeds, who were relegated from the Premier League two weeks ago, are looking to appoint a new coach and are also in the market to replace Victor Orta, who left as director of football last month.

The appointment-setting process has been held up during the complex and protracted attempts by Radrizzani and 49ers Enterprises to agree a final price for the 56 percent stake in the Italian stock.

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The value of the club fell sharply as a result of relegation to the Championship, prompting 49ers Enterprises to commit a total valuation of £170m. Had Leeds stayed in the First Division, that figure would have been closer to £400m.

Radrizzani, the 48-year-old businessman who has been a major shareholder at Elland Road since buying it outright in 2017, has been hard-pressed to move out of Leeds after the club’s three-year stay in the Premier League ended with 19th-place finish. Completion mode on May 28th.

Talks with 49ers Enterprises have been complicated by Radrizzani’s ongoing efforts to secure control of Serie A club Sampdoria, but negotiations progressed earlier this week and an agreement was reached on all sides late yesterday evening.

The announcement of a deal in principle effectively ends Radrizzani’s six-year reign and will see all ties with Leeds cut. Full ownership of the Elland Road stadium – which Radrizzani purchased in 2017 – will pass to 49ers Enterprises as part of the buy-out.

49ers Enterprises chairman Parag Marath, who has been vice-chairman of Leeds since 2021, is expected to take over as chairman, with current CEO Angus Kinnear remaining in the role.

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The completion of the takeover by 49ers Enterprises, according to those familiar with its intentions for Leeds, would result in a near-season budget increase as part of the American group’s plan to pump money into the club and avoid more than 12 months out of the club. Premier League.

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Despite the tight turnaround before next season begins, there is optimism the takeover can facilitate a coordinated promotional push, and the takeover is firmly on track after a week of controversy.

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(Photo: Getty Images)

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